UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 10, 2004
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First Keystone Financial, Inc.
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(Exact name of registrant as specified in its charter)
Pennsylvania 000-25328 23-0469351
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
22 West State Street, Media, Pennsylvania 19063
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (610) 892-6210
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Not Applicable
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2 below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 240.14d-2(b))
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 2.02 Results of Operations and Financial Condition
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On November 10, 2004, First Keystone Financial, Inc. (the "Company")
reported its results of operations for the fourth quarter and fiscal year
ended September 30, 2004.
For additional information, reference is made to the Company's press
release dated November 10, 2004, which is included as Exhibit 99.1 hereto and
is incorporated herein by reference thereto. The press release attached
hereto is being furnished to the SEC and shall not be deemed to be "filed" for
any purpose except as otherwise provided herein.
ITEM 2.06 Material Impairments
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In connection with the preparation of the Company's fourth quarter and
fiscal year end financial statements, the Company determined that a $5.0
million investment in Federal Home Loan Mortgage Corporation floating rate
perpetual preferred stock was impaired due to its decline in value and further
determined that such value is not expected to recover in the near future. As
a result, the Company recorded a $1.1 million (pre-tax) impairment charge with
respect to such security. For additional information, reference is made to
the Company's press release dated November 10, 2004, which is included as
Exhibit 99.1 hereto and is incorporated herein by reference thereto.
ITEM 9.01 Financial Statements and Exhibits
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits
The following exhibit is filed herewith.
Exhibit Number Description
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99.1 Press release dated November 10, 2004
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
FIRST KEYSTONE FINANCIAL, INC.
Date: November 12, 2004 By: /s/ Rose M. DiMarco
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Rose M. DiMarco
Chief Financial Officer
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